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Asia’s Best Credit Funds Say Junk Bonds Will Be Key in 2021 Bloomberg 12/21/2020 David Ramli and Bei Hu (Bloomberg) When global bond markets dipped in February, fund manager John Stover dove in, predicting a rebound, only to watch prices collapse as the coronavirus pandemic raged on. Stover kept buying. “It never feels good to buy at the bottom or when things are going down,” he recalled earlier this month, describing hasty phone calls to portfolio companies checking how much money they had left. The bargain hunting as panicked investors hit the sell button helped Stover’s $50 million Tribeca Vanda Asia Credit Fund gain almost 21% this year as government stimulus kicked in well above the Bloomberg Credit Multi-Strategy Hedge Fund Index, which has been flat. The fund is among several that are bullish about trading opportunities in Asian bonds next year including those in the junk-rated space after generating returns during this year’s volatil

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